Collections White Papers
White Papers from leading Collections experts provide great insight and research on timely relevant Collections topics.
Skip tracing can easily straddle the line between an acceptable debt collection practice and one that does not comply with the 1977 Fair Debt Collection Practices Act. By following some key best practices, collectors can ensure that their activities will not open themselves or their employer to litigation based on the FDCPA or any other industry rules and regulations passed by Congress over the course of the past half-century. This is best done by analyzing each form of skip tracing and each point of contact, looking into its legal uses and best practices.
There are a considerable amount of laws under the Fair Debt Collection Practices Act that must be thoroughly understood. There are specific people and entities covered under the act as well as required conduct. Companies who fail to conduct themselves in the proper manner can find themselves facing legal consequences. Download this white paper for an overview of the Fair Debt Collection Practices Act.
Success in debt collection is sometimes portrayed as being hit and miss. By focusing on the legality, format, and mood of a demand letter, collections professionals can have increased success in persuading debtors to pay their debts. Download this white paper to learn the secrets of drafting an effective demand letter.
For a long time, very few companies were willing to send debt collection communications via email. As improvements in technology and security have been made, however, more companies are using email messages to try to collect debts than ever. There are many significant benefits to using email for collections. However, itís all too easy to make serious mistakes. Download this white paper to learn more about effectively using email for collection purposes.
Thousands of companies rely on commercial Letters of Credit each year to ensure payment. Ideally, a Letter of Credit works by passing the payment requirement for a service or sale to the bank issuing the Letter. This arrangement has distinct advantages for both the seller and the buyer, but some sellers deal with serious nonpayment issues when accepting Letters of Credit. In most cases, fundamental misunderstandings of the usage and terms of an LC cause the nonpayment. Download this white paper to understand the purpose of letters of credit and how to use them efficiently.